. Unsigned Music PR Quite Great Advice. Here is something from our blog archive have a read and drop us an email.
In general terms you as a record label are a little bit like a bank. You are loaning the artist services, money. As a budding record company entrepreneur. The more you can be simple in your first stage agreements and understand how the maths will work. Hence what you will and what you won’t pay for . Then you will know that the artist. Is going to first look at (unless they are mad), the % of their return from sales. For every £1 what they actually get back for creating the music in exchange for your funding. In some way shape or form, the career they are developing.
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It is important that you explain fully to an act that if you pay for the creation of the recordings then you will own the recordings. Now don’t forget that is different to owning the publishing of the songs but more of that later. There are many, many examples of artists who have huge success and end up filing for bankruptcy .Many more labels that have success with an act then make bad decisions on another one and end up hitting the rocks.
As a label do not let your heart rule your head. Most of all make sure you feel you can have a strong working relationship with your artist. If you feel they are not on your wavelength maybe best to walk away. As once money comes into play you will find a lot of artists and a lot of labels start seeing things differently. So if it is not all written in stone in a simple or hugely complex agreement then there will be problems. Hence why as the label your new best friend will initially be your lawyer. In many cases as a start up just accept that you will have to pay them in order to sleep easy in your bed at night.
This is just a TINY insight but gives you an overlook into the world of independent record labels.
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